379.815. Definitions.

MISSOURI STATUTES AND CODES

Definitions.

379.815. As used in this section, the following terms mean:

(1) "All-industry placement facility" (hereinafter referred to as "thefacility"), the organization formed by insurers to assist applicants insecuring basic property insurance, to issue policies and to administer theprogram and the joint reinsurance association;

(2) "Basic property insurance", the coverage against direct loss to realand tangible personal property at a fixed location that is provided in thestandard fire policy and extended coverage endorsement, including builders'risk, and such vandalism and malicious mischief endorsements, and such otherclasses of insurance as may be added to the program with respect to theproperty by amendment as hereinafter provided. Basic property insurance doesnot include automobile risks or such types of manufacturing risks as thegoverning committee may exclude with the approval of the director. Anycontract, as defined in section 375.918, RSMo, of the facility shall besubject to the provisions of section 375.918, RSMo;

(3) "Commercial", basic property insurance not included under thepersonal lines statistical plan;

(4) "Director", the director of the department of insurance, financialinstitutions and professional registration of the state of Missouri;

(5) "Habitational", basic property insurance included under the personallines statistical plan;

(6) "Inspection bureau", the rating bureau or other organizationdesignated by the facility with the approval of the director to makeinspections as required under the program and to perform such other duties asmay be authorized by the facility;

(7) "Insurer", any insurance company, reciprocal or interinsuranceexchange or other organization licensed and authorized by the director towrite property insurance, including the property insurance components ofmultiperil policies, on a direct basis, in this state;

(8) "Person" includes any individual or group of individuals,corporation, partnership, or association, or any other organized group ofpersons;

(9) "Premiums written", gross direct premiums (excluding that portion ofpremium on risks ceded to the joint reinsurance association) charged duringthe second preceding calendar year with respect to property in this state onall policies of basic property insurance and the basic property insurancepremium components of all multiperil policies, as computed by the facility,less return premiums, dividends paid or credited to policyholders, or theunused or unabsorbed portions of premium deposits;

(10) "Property owner", with respect to any real, personal, or mixed realand personal property, means any person having an insurable interest in suchproperty;

(11) "Secretary", the Secretary of the United States Department ofHousing and Urban Development.